Miners Riot and Hut 8 Sell Bitcoin to Fund AI and Buybacks

Miners Riot Platforms and Hut 8 announced the sale of thousands of Bitcoin units throughout this year. Riot liquidated 20,264 units to fund the construction of data centers focused on artificial intelligence. Hut 8 sold 3,102 units to carry out a 250 million dollar share buyback program.

Riot's strategy includes a 15-year lease agreement with an artificial intelligence lab for its campus in Corsicana, Texas. The project anticipates a 910-megawatt capacity and estimated annual revenue of 1.8 billion dollars. The company ended the third quarter with 2,418 Bitcoin units in its treasury.

Hut 8 reported a balance of 16,787 Bitcoin units in September before the sales conducted in October. The company is using the funds to adjust its capital structure and reduce the number of shares in circulation. This move reflects an operational shift in the mining sector as firms seek to diversify revenue streams beyond cryptocurrency extraction.

Riot also used part of the proceeds from the sales to pay off a 200 million dollar credit line with Coinbase. The company did not issue new shares in 2026. Bitcoin mining remains a secondary activity while data infrastructure takes priority in investment plans.